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Foreign Companies Bullish On Indian Infrastructure Market

Monday, November 25, 2013
By A Business Reporter

Though the Indian economy is recovering slowly, foreign construction equipment companies seem to be still bullish on its future. This optimism was once again reinforced by a big jump in the number of foreign participants in Excon 2013, the 7th edition of South Asia’s biggest exhibition of Construction Equipment (CE), organized by the CII, currently being held inBangalore from 20th to 24th of November, 2013 at the Bangalore International Exhibition Centre, Bangalore.  

Excon 2013 witnessed the participation of over 20 countries from across the globe. There has been increasing participation from countries like China, Germany, Japanand South Korea besides many other countries. Of course, the overall Percentage of companies participating in the exhibition has also gone up by 17 per cent from 2011 to 2013. Out of the total participants at the Excon 2013, the international participants constitute 29 percent. The increasing participation of international companies demonstrates the fact that India has tremendous scope for being a manufacturing hub for construction and equipment industry. Among the foreign participants China has once again dominated Excon 2013 with more than 100 companies taking part in the exhibition.

At Excon 2013, a 11 member delegation of renowned CE component manufacturers from KOCEMA (Korea Construction Equipment Manufacturers Association) participated in the exhibition for exploring the business opportunities in components manufacturing and outsourcing.

Reflecting the positive mood on India, the Chinese excavator and wheel loader manufacturing company LiuGong said that it has seen good response in Excon 2013. Rohit Punjabi, Assistant Director, Strategy & Marketing Department, LiuGong India said, “This is our third exhibition in Excon. So far we were present in the corporate market, now we have entered the retail market too. He said that LiuGong got good number of visitors and enquiries from customers coming fromNorth India, apart from people coming from the southern part of the country. “This shows that we are getting enquiries from customers who are serious about their business, this is a very good sign. We expect a turnaround in demand in the next 8 months or so,” Punjabi said.

Going by the encouraging response from customers, the Korean entity Hyundai Construction Company also thinks that Excon is an excellent platform to reach out to the customers. The company has launched two products in Excon 2013. Dheeraj Panda, Head – Sales and Marketing, Hyundai Construction Equipment India said, “Participation in Excon is very strategic to our operation and business because the exhibition attracts a large number of serious visitors.” Hyundai, which has a manufacturing and assembly facility at Chakkan, near Pune, is confident of increasing its market share in excavators from 18 per cent now to 20 per cent in the next year. He said that though the overall construction equipment market is down by 25 per cent, the long term growth story for India still holds good.

The German road construction and mining equipment major the Wirtgen Group is also bullish on India’s long term growth and is in the process of expanding its production and assembly facility in India., said Neena Nikam, Assistant Manager – Marketing Services, Writgen India Pvt Ltd. She thinks in the long term, the India growth story is still intact. “People from abroad are watching India with a lot of interest. They know that even though the speed of development has slowed down in the recent years, but for a growing economy like India the infrastructure sector and construction industry will prosper in the long run. There is no dispute about it,” Nikam said.

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